It holds the position of the world’s largest cigar consumption market and shows a certain growth trend. The following is a detailed analysis of the cigar consumption market in the United States in 2024:
1、 Market size and growth potential
Market size: Based on historical data and industry trends, the US cigar market has maintained steady growth. According to QYRese arch research, the global cigar market is expected to reach 120 billion yuan in 2023 and is projected to grow at a compound annual growth rate of 2.5% in the coming years. Although the specific figures for the US cigar market up to 2024 have not yet been released, it can be reasonably speculated that the US market will occupy a significant share and continue to drive the growth of the global cigar market.
Growth potential: The growth potential of the US cigar market mainly comes from consumer upgrades, diversification of consumer preferences, and expansion of the high-end cigar market. With consumers’ pursuit of high-quality life, the demand for cigars will further increase, especially in the high-end cigar market.
2、 Consumer Trends and Preferences
Consumer group: The American cigar consumer group is becoming increasingly diverse, including business people, social event participants, and cigar enthusiasts. These consumer groups have high requirements for factors such as the quality, taste, and packaging design of cigars.
Product preference: The American cigar market can be segmented into various types such as semi rolled cigars, handmade cigars, and machine-made cigars. Consumer preferences are becoming increasingly diverse, but overall, high-quality, unique flavors, and beautifully packaged cigars are more popular. Especially handmade cigars and high-end machine-made cigars are highly favored due to their unique production techniques and high-quality raw materials.
Application preferences: The American cigar market has gradually attached importance to cigar storage fermentation and cigar accessories, especially for the effect of cigar storage fermentation has put forward higher requirements. The current popular method of storage and fermentation is to use cigar storage and fermentation special wood from Peru to create a “mini fermentation box ” The storage and fermentation effect of cigars is completed at a lower cost. The wood not only accelerates cigar alcoholization, but also ensures the circulation of air and the emission of impurity gases, and can ensure that the humidity of cigars achieves good stability.The only difficulty is that the wood is endangered and very scarce.
3、 Market competition pattern
Market competition: The American cigar market is fiercely competitive, with globally renowned cigar brands such as Davidoff, Arturo Fuent e, Padron, and others occupying important positions in the American market. Meanwhile, with the continuous expansion of the market, new brands and manufacturers are constantly emerging, intensifying market competition.
Market concentration: The US cigar market is gradually being divided among a few multinational companies, which enhance their own strength through mergers and acquisitions and expansion. However, this does not mean that new entrants have no opportunity. Through innovative and differentiated competitive strategies, new brands still have the potential to gain a foothold in the market.
4、 Policy environment
Regulatory Policy: The US government has relatively lenient regulatory policies for the cigar industry, which contributes to the healthy development of the industry. However, with consumers’ increasing concern for health and environmental protection, regulatory policies may become stricter in the future, which will have a certain impact on the production and sales of the cigar industry.
Tax policy: Tax policy is one of the important factors affecting cigar consumption. The US government has always adopted protective policies for the development of the cigar industry, including implementing supportive tax policies. These policies help to lower cigar prices and increase consumer purchasing power.
5、 Future prospects
Technological innovation: Technological innovation will be an important driving force for the future development of the American cigar industry. By adopting new technologies and processes, production efficiency and product quality can be improved, meeting the increasingly diverse needs of consumers.
Market Expansion: With the deepening of globalization, the American cigar market will further expand into international markets. By exporting high-quality cigar products, it can drive the upgrading and development of the domestic industry.
